The corruption cases databases are a product of the staff of the International Bank for Reconstruction and Development / The World Bank. It is intended for general information purposes only. The findings, interpretations, and conclusions expressed in the Database do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. Neither the World Bank Group nor its officers or employees shall be liable for any losses that may result directly or indirectly from the use of or reliance upon such information.
According to the US Department of Justice Press Release, "Vicente Eduardo Garcia, 65, of Miami, was sentenced to 22 months in prison by U.S. District Judge Charles R. Breyer of the Northern District of California. On Aug. 12, 2015, Garcia pleaded guilty to one count of conspiracy to violate the Foreign Corrupt Practices Act (FCPA). On July 15, 2015, Garcia and the U.S. Securities and Exchange Commission (SEC) entered into a settlement of the parallel SEC investigation in which Garcia agreed, among other things, to pay disgorgement of $85,965 plus prejudgment interest. For this reason, the United States did not request, and the court did not order, forfeiture in the criminal action.
In his plea, Garcia admitted that in late 2009, to secure for SAP a multimillion-dollar contract to provide a Panamanian state agency with a technology upgrade package, Garcia conspired with others to bribe two Panamanian government officials directly and a third official through an agent. Garcia admitted that the conspirators used sham contracts and false invoices to disguise the true nature of the bribes and that he believed paying such bribes was necessary to secure the initial and any future Panamanian government contracts. Panamanian officials awarded the $14.5 million contract, which included $2.1 million in SAP software licenses, to SAP’s partner as well as subsequent contracts that also included the provision of SAP products. Garcia personally received over $85,000 in kickbacks for arranging the bribes." (Source: US DOJ Press Release, "Former Executive Sentenced for Conspiracy to Bribe Panamanian Officials," December 16, 2015.)
US DOJ Press Release, "Former Executive Sentenced for Conspiracy to Bribe Panamanian Officials," December 16, 2015, at https://www.justice.gov/opa/pr/former-executive-sentenced-conspiracy-bribe-panamanian-officials
Please help us ensure that StAR Asset Recovery Watch is as accurate and comprehensive as possible by sending us updated information regarding the cases currently in StAR Asset Recovery Watch, as well as information about cases for future inclusion in the database.
To report any errors or updated case information, please contact email@example.com. Please include the name of your organization, the country in which you reside, and "StAR Asset Recovery Watch" in the subject line.